The schemes — Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund — together had an estimated Rs 25,000 crore as assets under management (AUM).
“The six schemes have received total cash flows of Rs 15,776 crore till March 31, 2021 from maturities, coupons and prepayments since winding up,” the fund house said in a statement.
Over the latest fortnight ended March 31, this year, these schemes received Rs 505 crore.
Franklin India Income Opportunities Fund has turned cash positive after repaying all its outstanding borrowings, thus, all the six schemes are now cash positive, the fund house said.
Further, it said that the net asset value (NAV) of all the six schemes were higher as on March 31, this year, vis-a-vis their respective NAVs on April 23, 2020, the date on which the winding up decision was taken.
Franklin Templeton MF said its primary focus over the last several months has been, and remains, on returning money to unit holders as quickly as possible.
In this regard, the fund house said it has directed its efforts to support SBI Funds Management, the liquidator appointed by the Supreme court, in monetizing the portfolios of these schemes and returning money to investors at the earliest.
The fund house said that cash available for distribution in all the schemes stood at Rs 1,874 crore as on March 31, 2021 following the distribution of Rs 9,122 crore in February.
